Gasoline prices averaged USD 2.10 per gallon in May, up 0.7% from April. On 30 May, the commodity traded at USD 2.02 per gallon, unchanged from 30 April.
Gasoline’s price premium over crude oil rose to a 14-month high in May. The U.S. driving season has gotten off to a good start, with gasoline demand averaging at a seven-year seasonal high in the week ending 23 May; Americans may be opting to cut costs and drive rather than fly due to rising economic uncertainty.
This chart displays Gasoline (US$/gal) from 2023 to 2025.
RBOB Gasoline (prices in US$/gal, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| RBOB Gasoline | - | 2.60 | 2.72 | 2.20 | 2.37 | 2.57 | 2.26 | 2.00 |